Jaguar S-Type Prices Paid and Buying Experiences

Comments

OK, I'm back after 3.5 years. My 2003 BMW 5-Series car's warranty is up next May and I'm shopping for a replacement.

I want something different and am looking at Jaguar (call me crazy, call me nutsy, my wife does and she's a shrink). Given the uncertain resale value I'd like to lease it, which would be my first time doing so. I have several questions I hope you can help me with:

1. Given that one shouldn't put anything extra down as a capital cost reduction (because of the possibility of totalling the car and losing the up front money) does this mean that I really shouldn't think of trading in my old car? Would CCR derived from a trade-in be treated any differently than CCR gained via cold, hard cash?

2. I'm looking at new cars, either a 2007 XJR or 2007 S-Type R. Can you tell me what the lease buy rate would be (through Jaguar) for each of these? Also, what kind of up front payments are ABSOLUTELY REQUIRED (e.g. Acquisition, Bank Fee, Security Deposit)? I'll pay what I have to but not something which is thinly-disguised dealer profit. The dealer is entitled to make money but let's call it what it is.

3. Finally, are there any Jaguar incentives for either of these models (even for 2006)? I'd like to know how much play I have in negotiating a price.

Thanks in advance. I KNOW I'll wimp out and get a lousy deal (regardless of the make) but I like to ACT like I know what I'm doing.

Welcome back nlkleinberg. There's nothing wrong with trading in your old car when leasing a new one. Just make sure to have the dealer that you are working with cut you a check for any equity that you have in your trade rather than using the proceeds from it as a capitalized cost reduction for your lease.

I haven't seen Jaguar's lease program for the 2007 XJR or the S-Type R yet. I have seen its program for the 2007 S-Type 3.0L if you are interested though.

At lease signing, you will have to pay your car's first month's payment, a security deposit that is equivalent to your vehicle's monthly payment rounded up to the nearest $25 increment, Jaguar Credit's $595 acquisition fee, and any required state taxes or fees.

Jaguar has special lease rates and dealer cash on the 2006 versions of these cars, but I do not believe that it is providing any support on the 2007 versions yet.

Thanks for all your great work on these sites. They are a huge help. We are looking at three vehicles, one being a 2006 Jag S model. The dealer has one left on the lot and he said Jaguar had a "dream lease" program on the '06s. I haven't got all the details yet, but based on the price of $51,595, they said the residual was 53% for 12,000 miles 24 months, and 52% for 15,000 24 months. $6,375 drive off with $4,375 dealer credit, so basically $2,000 from us. Said payments were $758 + tax on the 12K and $789 + tx on the 15K. Said the money factor was .00002 Do you know the program that they are speaking of? The money factor is great, but the residual seems low, especially for 24 months. With a low residual, can we look to purchase the vehicle at an under market value in two years? What are the current NF and residuals for the 2006 Jag-S models?

You're very welcome, dbrowniefl. I am familiar with the lease program that you mentioned. The numbers that the dealer you are working with quoted you are right in line with Jaguar Credit's current program for this car. Unfortunately, it is only scheduled to run through October 4th. If you haven't finalized your deal yet, you may end up having to lease this car using Jaguar's new October lease program. I haven't seen it yet, but should be able to take a peek at it in a few days. If you want information on what its new program is like, please check back with me then and I will fill you in on what I have been able to find out.

Low residual values are bad for leases because they cause lessees to pay for a lot of depreciation in their monthly payment. I am not surprised that the residual value that you were quoted is so low, Jaguars tend to have fairly low residuals. It is difficult to say whether you would be able to purchase this car at the end of a two year lease for less than market value. If will certainly cost you less to purchase at lease-end than it would have if it had a better residual value.

I'd be happy to give you an idea of what the lease program for the car that you are interested in is like, jagtn. First, I need you to tell me exactly which model you want, how long you want to lease it for, and how many miles per year you need to be able to drive it.

Hi jagtn. Here's the information that you're looking for. Jaguar Credit's current buy rate lease money factor and residual value for a 36 month lease of a 2006 Jaguar S-Type V8 with 12,000 miles per year are .00070 and 42%, respectively. The numbers for an otherwise identical lease of a 2007 S-Type V8 are .00066 and 47%. When negotiating your lease, make sure to take the $4,250 lease cash that Jaguar is currently providing on the '06 S-Type V8 and $550 on the 2007 model into account. they will help you to negotiate an attractive capitalized cost.

I have many questions. 1. I am not entirely sure how to evaluate the deal - are these good deals? 2. what should I be looking for when I ping other dealers. 3. Are there any Jag lease programs currently on older cars that I could leverage for eg. should I be looking at newer (2006/7) car leases if there are better lease programs on these?4. I have a 2000 S-Type that I purchased in 2000 and would like to trade-in? Should I try to sell that on my own to get the maximum $ or would I be better of negotiating this as part of the deal? Also, when is the appropriate time to broach the topic of trade-in?

Sorry for the laundry list of questions. I hope I can learn from all your experiences and end up with a good deal that I am happy about.

Hi time2change. Like with a new vehicle lease, it is very important to find out the exact selling price of the used vehicle that you are considering leasing. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without having the dealer tell you what these car's selling prices are, it is difficult to tell how good a deal you are getting on them. When you find out what they are, you can evaluate the prices that you are being given by looking up the cars that you want in the Edmunds.com Used Car Appraiser.

Also, make sure to compare the lease payments on these used vehicles with what it would cost to lease similar brand new versions of them. The lease support that manufacturers provide on new vehicles often makes them nearly as attractive to lease as used ones. It would be silly to lease a used Jaguar when for only a few dollars per month more you could get a brand new one.

I ended up leasing the 2005 V8 with 51K miles. I negotiated the sale price from $30K down to $27.5K. I did evaluate against a new car lease and there was a sizeable diff - new car V6 was $750/month vs. used car v8 was $490/month. I am happy with my purchase.

I am coming to the end of 42 month lease on my S type. This is my second S Type that I have leased. I understand that the past 2 years have been terrible for S type sales and it is likely that the car will no longer be made after 2008. I would have thought I would have gotten in the mail some type of incentive or promotion to continue with a new lease. Are they doing anything special ? Has the value of the car gone done ?

Hi lucht. Jaguar currently has some very attractive lease money factors and a ton of lease cash on the 2007 S-Type. The problem with leasing one is its residual values are terrible. If you tell me exactly which model you want, how long you want to lease it for, and what mileage allowance you need I would be happy to give you the specifics of its new lease program.

Thanks for the additional information, lucht. Jaguar Credit's current buy rate lease money factor and residual value for a 36 month lease of a 2007 Jaguar S-Type 3.0L with 12,000 miles per year are .00059 and 42%, respectively. The numbers for an otherwise identical 42 month lease are .00089 and 35%. If you were to lease with only 10,000 miles per year, this car's residual values would be 1% higher. When negotiating your lease on this car, make sure to take the $5,000 lease cash that Jaguar is providing on the '07 S-Type 3.0 into account. It will help you to negotiate an attractive capitalized cost for your lease.

The cost for this 24 month lease seems quite high, however we have never leased a car before. Should we be receiving a discount for the pre-payment? We are asking for only 10,500 miles per year allowance. What other things should we do to try and lower the cost.

You're very welcome, rtjgolf. Jaguar is currently providing a $4,500 cash incentive on leases of 2007 S-Types through Jaguar Credit. It is providing $2,200 lease cash on the 2008 S-Type 4.2, but I haven't seen any cash for the '08 S-Type R.

I would be happy to give you an idea of what these cars' current lease programs are like, but in order for me to do so I need you to tell me how long you want to lease for and what mileage allowance you need.

You definitely should receive a reduction in the money factor that is being used to calculate the interest cost of your lease if you pay for the entire thing in advance. I am not sure exactly how much of a money factor reduction Jaguar Credit provides on pre-paid leases though.

The best way to get a good deal on a lease is to negotiate the lowest possible selling price on the car that you want. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Negotiate a selling price that is as close to dealer invoice as possible and the have the dealer that you are working with subtract the available lease cash from that number to come up with a capitalized cost for your lease.

I will be leasing a 2008 Jaguar S-Type 4.2. I will be doing a 36 month lease. Mileage can be 10,000/year. Can you tell me what the corresponding residual and money factors are? Is there any other cash available (other than the $2,200 you mentioned)? Thanks

Lots of good deals out there on this car right now have me thinking of a 2 year lease for $500/mo. I'm getting tired of the German performance cars all looking alike these days, and think this would be a nice compliment to my Mini Cooper S. There seems to be very little information on the recent productions, though clearly many folks have not found the older ones to be as relaible.

What are you're impressions of this car - especially if you have an 07 V6?

The S type is one car I would stay away from. 1) fit and finish is not up to Jag quality.2) it is going to be discontinued b/c of slow sales, which means you should be able to find a terrific deal. 3)the new model which replaces it comes out early next year if everything goes according to planned.

I guess my biggest complaint is that Jaguar has always been known for manufacturing cars that are well appointed on the interior, clean layout, a quality feeling, and there are way too many parts used from Ford vehicles on this car. It might as well be a ford, with a slightly prettier face. If I were you I might consider a used XJR, you will find that the quality is totally superior. If you don't want that it will be easy to find an XJ model for well under 50 K if you negotiate it appropriately..

My local Orange County, CA dealer is advertising a S-Type 3.0 base model at $499/mo, 24 mo, $5k driveoff lease with 10,500 miles per year. Not clear if the cost of the car has been reduced to get to these figures. The payment is reasonable, but the driveoffs seem pretty high for just a 2 year lease. Presumably to get to these numbers, they've accounted for the $4k of lease incentives you mention - though I see nothing about that on the Edmunds website currently.

Any idea on the money factors they're using or if I'm missing something? How much lower can I get them to go down?

1) Contact Bauer Jag ask them how many S types thhey have in stock and tell them you want to lease. I used them to get the price of my local jag dealer to come down on an xj model 5000 dollars.

2) are you sure you want this cara) fit and finish suck (to put it mildly)b) this is a glamorized ford with Ford reliabilityc) this model can't be moved fast enough, it will be discontinued by early 08. d) slow sales have contributed to its demise.

3) If you really want a jag, which will be trouble free may I suggest a used XJ model no older than the 04 model year.

reliability is improved, it is jag quality, and these cars can be found on the cheap, with low mileage and a decent waranty.

Wow - i recognize that when you get this car, you're taking your chances, but after owning Audis and BMWs for 8 years, not being inspired by the design and/or performance of the Mercedes, Lexus, Infiniti, Acura, etc, it seems worthwhile to take a serious look at this car. The 2007 models share many of the same components inside, still turn heads, and have above average performance in a luxury car.

I don't mind the fact the car doesn't have a lot of company on the road...these days I can't tell a BMW from a Honda

Hi misterjim. $5,000 is too much money to pay at lease signing. It has to include a significant capitalized cost reduction. I always advise consumers against making large cap cost reductions on leased vehicles. Those who make them risk losing part or all of them if their vehicle is totaled in an accident or stolen and never recovered. You would be much better off going with no cap cost reduction on this lease.

As far as Jaguar's current lease program for this model goes, if you were to lease a 2007 S-Type 3.0 through Jaguar Credit right now for 24 months with 10,500 miles per year its buy rate lease money factor and residual value should be .00024 and 50%, respectively. As I mentioned earlier, Jaguar is providing $4,500 lease cash on this model.

It's difficult for me to say how much less you will be able to get this car for without knowing its selling price. Negotiate as low a selling price as you can on the car that you want and then have the dealer calculate your monthly payment using the aforementioned lease program. I personally would shoot for a capitalized cost of $3,500 to $4,000 below invoice (using the lease cash) and see what happens.